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Nigeria’s Power Generation Drops By 990MW
The latest data on the electricity generation trend has shown that the available generation capacity in Nigeria’s power sector dropped again in 2022. It crashed from the 6,336.52 megawatts recorded in 2021 to 5,346.82MW last year. Also, the annual capacity payment loss to power generation companies had increased to N1.8 trillion, showing a decrease in…
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Power Generation Drops By 19%
Nigeria power generation has dropped by 19.23 percent to 3,089.30 Megawatts during the Easter festivities. This development left most parts of the country without electricity supply for the festive season. According to data from the Independent System Operator (ISO) portal, a semi-autonomous unit at the Transmission Company of Nigeria (TCN), the drop is against the…
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NERC: Gencos Recieved N81.14bn Payment Assurance In 2020
The Nigerian Electricity Regulatory Commission has said power generation companies received N81.14bn as payment assurance from the Nigeria Electricity Bulk Trading Plc in 2020. NERC disclosed this in its latest Key Operational and Financial Data of the Nigerian Electricity Supply Industry: 2019-2020. NBET disburses payment assurance to power generators to enable the Gencos to meet…
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NBET Owes Power Producers N437.67bn For 2020’s Generation
With a total invoice of N739.68bn, power generation companies were not paid 59.17 percent of the invoice issued in 2020 for the electricity produced and fed into the national grid. The government-owned Nigerian Bulk Electricity Trading Plc buys electricity in bulk from generation companies through Power Purchase Agreements and sells through vesting contracts to the…